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Abstract
(Marketwire - July 14, 2009) - Paramount Gold and Silver Corp. ("Paramount") (TSX:PZG)(NYSE:PZG)(FRANKFURT:P6G)(WKN:A0HGKQ) is pleased to announce that the drilling campaign on the San Miguel project was restarted. This drilling program will be conducted in 2 distinct stages, target testing and follow-up resource delineation. Exploration drilling is focusing on the gold-rich parts of the San Miguel mineral system with the goal of defining 2 million gold ounces within the next 12 months. It is anticipated that a significant silver credit would accompany successfully attaining this goal. The initial target testing stage is utilizing 1 diamond core drill contracted from Layne de Mexico S.A. de C.V.
- Quartz veins with localized high-grade gold concentrations in plunging shoots distributed along the strike of the vein (GdlR Target, San Francisco Target, La Tinaja Target, and San Miguel Target).